and said he is willing to receive payment in other bonds, not necessarily cash. “The Argentine government puts ideology above everything,” he said.

Wednesday, July 15, 2015

Paul Singer mocks Libertad frigate case

Paul Singer, the billionaire owner of NML.

Paul Singer, the billionaire owner of NML, the hedge fund behind the trial against Argentina over its defaulted sovereign debt, has commented sarcastically on the Libertad training ship.

“We thought the Libertad frigate was just a small training ship. We underestimated its importance. It turned out it was the whole national navy,” he said during a conference organized by the CNBC news channel in New York.

The Libertad had been seized by NML in Ghana over a lawsuit filed by the US-based vulture fund in 2012 for two months.

Singer added Argentina is “hurting itself” by not paying full amount on its defaulted bonds, and said he is willing to receive payment in other bonds, not necessarily cash. “The Argentine government puts ideology above everything,” he said.

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Tags:  Paul Singer  mocks  Fragata Libertad  NML  debt  Argentina